Short Interest in Shimmick Corporation (NASDAQ:SHIM) Grows By 114.7%

Shimmick Corporation (NASDAQ:SHIM) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 27,277 shares, a growth of 114.7% from the May 31st total of 12,704 shares. Based on an average daily volume of 146,810 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Shimmick

Hedge funds and other institutional investors have recently modified their holdings of the business. Avanza Fonder AB raised its holdings in shares of Shimmick by 19.4% during the 4th quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock worth $70,000 after buying an additional 3,878 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Shimmick in the first quarter valued at about $131,000. Thompson Davis & CO. Inc. grew its position in Shimmick by 13.4% in the fourth quarter. Thompson Davis & CO. Inc. now owns 124,722 shares of the company’s stock valued at $364,000 after acquiring an additional 14,722 shares during the last quarter. 1492 Capital Management LLC grew its position in Shimmick by 46.0% in the first quarter. 1492 Capital Management LLC now owns 149,812 shares of the company’s stock valued at $550,000 after acquiring an additional 47,180 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Shimmick by 896.8% during the first quarter. Sei Investments Co. now owns 246,816 shares of the company’s stock worth $906,000 after acquiring an additional 222,055 shares in the last quarter. Institutional investors own 6.94% of the company’s stock.

Shimmick Trading Down 5.3%

Shares of NASDAQ:SHIM opened at $4.33 on Thursday. The firm has a 50 day moving average of $4.37 and a 200-day moving average of $3.85. Shimmick has a 12 month low of $1.58 and a 12 month high of $6.76. The stock has a market capitalization of $158.91 million, a PE ratio of -7.47 and a beta of 0.69.

Shimmick (NASDAQ:SHIM) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. The firm had revenue of $88.03 million for the quarter, compared to analyst estimates of $116.80 million. On average, research analysts predict that Shimmick will post -0.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SHIM shares. Roth Mkm raised Shimmick from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Friday, March 13th. Wall Street Zen raised Shimmick to a “hold” rating in a report on Saturday, April 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Shimmick in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Shimmick has a consensus rating of “Hold” and a consensus target price of $5.50.

Shimmick Company Profile

Shimmick Corporation provides water and other critical infrastructure solutions in the United States. The company undertakes water and wastewater treatment infrastructure; water storage and conveyance, including dams, levees, flood control systems, pump stations, and coastal protection infrastructure; and mass transit, bridges, and military infrastructure projects. It serves federal, state, and local governments. The company was formerly known as SCCI National Holdings, Inc and changed its name to Shimmick Corporation in September 2023.